International Game Technology (IGT) Given Consensus Rating of “Hold” by Brokerages

Shares of International Game Technology (NYSE:IGT) have been given an average recommendation of “Hold” by the seven research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $30.70.

Several equities analysts have recently weighed in on the stock. Deutsche Bank increased their price objective on shares of International Game Technology to $34.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Bank of America increased their price objective on shares of International Game Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Argus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, November 29th.

Several hedge funds have recently added to or reduced their stakes in IGT. Northern Trust Corp grew its stake in shares of International Game Technology by 0.3% in the second quarter. Northern Trust Corp now owns 287,236 shares of the company’s stock valued at $5,257,000 after acquiring an additional 887 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of International Game Technology by 14.1% in the second quarter. Vanguard Group Inc. now owns 2,591,247 shares of the company’s stock valued at $47,420,000 after acquiring an additional 320,244 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of International Game Technology by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,921,569 shares of the company’s stock valued at $35,167,000 after acquiring an additional 12,899 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of International Game Technology by 5.3% in the second quarter. Voya Investment Management LLC now owns 30,256 shares of the company’s stock valued at $554,000 after acquiring an additional 1,510 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of International Game Technology in the second quarter valued at about $1,457,000. Institutional investors and hedge funds own 40.63% of the company’s stock.

Shares of International Game Technology (NYSE IGT) traded down $0.69 on Friday, hitting $25.92. 2,942,504 shares of the stock traded hands, compared to its average volume of 1,253,947. The company has a market capitalization of $5,390.00 and a price-to-earnings ratio of -5.73. International Game Technology has a 52 week low of $17.25 and a 52 week high of $29.89. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.84 and a quick ratio of 0.70.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, November 14th. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. sell-side analysts expect that International Game Technology will post 1.23 EPS for the current year.

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International Game Technology Company Profile

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

Analyst Recommendations for International Game Technology (NYSE:IGT)

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